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Banx Wall Street was installed with debt from Elon Musk's acquisition of $ 44 billion from Twitter, on large pieces of loan package for investors on Wednesday, allowing a lender from lenders to get out of the most difficult acquisition financing in recent years.
The banks managed to sell 5.5 billion dollars of term loans, after selling nearly one billion dollars from the same debt last week, with the help of the investor's interest in assets, according to the people who were briefed on the matter. The debt that was sold on Wednesday was discharged with only a small discount, as it was sold at a price of 97 cents on the dollar.
The deal was a pivotal moment for BanksThat was forced to finance Musk's 2022 acquisition of themselves after its ownership of the company, which is now renamed x, and the wider enthusiasm in the market.
The banks, led by Morgan Stanley, Bank of America and Barkles, are now leaving an additional $ 6 billion of debt associated with acquisitions, which are more dangerous than the loans they sold during the past week. MUFG, BNP Paribas, Mizuho and Société Générale participated in the deal.
Bofa, Morgan Stanley, Barclays, BNP Paribas and Socgen rejected the comment, while other banks did not respond to suspension requests.
Debt sales over the past two weeks have attracted a wide list of prominent groups, including Citadel, Apollo Global Management, Pimco and Diameter Capital. The groups refused to comment.
People familiar with the deal said that the appetite for the investor in Twitter debts was strengthened through Musk's relationship with US President Donald Trump, in addition to the return of some advertisers who had withdrawn from the site. This has proven to be a blessing of rescue for banks that went up to finance the deal, given that some hedge funds provided Morgan Stanley and others only 60 cents on the dollar in 2023 to get debt out of their hands.
The money manager, who concluded the deal, added that it was the appropriate time for banks for sale, noting “Elon's cache.” It is FOP, a friend of the president. “
The deal comes at a time when Musk clashed to restore X to financial health after advertisers fled from the platform due to concerns about its hands approach in moderation and brand safety.
However, the company has witnessed a rise in new business and partnerships this year in the wake of Musk in an increasingly establishing power in the Trump administration. Amazon strengthened marketing spending in January.
